2014 Q2 Form 10-Q Financial Statement

#000092700314000066 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $82.23M $139.7M
YoY Change -41.15% 20.8%
Cost Of Revenue $93.74M $86.45M
YoY Change 8.43% 20.19%
Gross Profit $42.39M $53.26M
YoY Change -20.41% 21.79%
Gross Profit Margin 51.55% 38.12%
Selling, General & Admin $22.83M $22.91M
YoY Change -0.36% 37.14%
% of Gross Profit 53.86% 43.02%
Research & Development $15.74M $15.74M
YoY Change -0.03% 8.54%
% of Gross Profit 37.12% 29.55%
Depreciation & Amortization $3.229M $3.331M
YoY Change -3.06% 9.07%
% of Gross Profit 7.62% 6.25%
Operating Expenses $41.03M $64.83M
YoY Change -36.71% 100.0%
Operating Profit $16.00M -$11.57M
YoY Change -238.26% -202.28%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $25.00K -$330.0K
YoY Change -107.58% -118.59%
Pretax Income $11.54M -$11.90M
YoY Change -196.93% -190.93%
Income Tax $891.0K -$2.120M
% Of Pretax Income 7.72%
Net Earnings $10.65M -$9.782M
YoY Change -208.83% -209.57%
Net Earnings / Revenue 12.95% -7.0%
Basic Earnings Per Share $0.26 -$0.25
Diluted Earnings Per Share $0.26 -$0.24
COMMON SHARES
Basic Shares Outstanding 40.54M shares 39.45M shares
Diluted Shares Outstanding 41.15M shares 40.15M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.2M $99.10M
YoY Change 31.38% -33.49%
Cash & Equivalents $117.5M $87.06M
Short-Term Investments $12.60M $12.10M
Other Short-Term Assets $13.08M $14.39M
YoY Change -9.07% 35.41%
Inventory $118.2M $102.2M
Prepaid Expenses
Receivables $121.3M $132.6M
Other Receivables $4.700M $6.100M
Total Short-Term Assets $398.2M $373.9M
YoY Change 6.51% 4.48%
LONG-TERM ASSETS
Property, Plant & Equipment $32.82M $40.77M
YoY Change -19.5% 2.79%
Goodwill $206.9M $144.7M
YoY Change 43.0% 210.99%
Intangibles $44.76M $33.97M
YoY Change 31.74% -16.56%
Long-Term Investments
YoY Change
Other Assets $21.50M $21.60M
YoY Change -0.46% 100.0%
Total Long-Term Assets $305.9M $241.0M
YoY Change 26.95% 74.96%
TOTAL ASSETS
Total Short-Term Assets $398.2M $373.9M
Total Long-Term Assets $305.9M $241.0M
Total Assets $704.1M $614.9M
YoY Change 14.52% 24.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $72.21M $66.40M
YoY Change 8.75% 57.98%
Accrued Expenses $45.50M $45.00M
YoY Change 1.11% 63.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.600M $13.40M
YoY Change -65.67%
Total Short-Term Liabilities $139.7M $137.3M
YoY Change 1.77% 65.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.39M $38.32M
YoY Change -36.35% 124.13%
Total Long-Term Liabilities $24.39M $38.32M
YoY Change -36.35% 124.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $139.7M $137.3M
Total Long-Term Liabilities $24.39M $38.32M
Total Liabilities $239.2M $213.4M
YoY Change 12.11% 66.93%
SHAREHOLDERS EQUITY
Retained Earnings $204.8M $142.4M
YoY Change 43.81% 5.66%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $465.0M $401.5M
YoY Change
Total Liabilities & Shareholders Equity $704.1M $614.9M
YoY Change 14.52% 24.07%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $10.65M -$9.782M
YoY Change -208.83% -209.57%
Depreciation, Depletion And Amortization $3.229M $3.331M
YoY Change -3.06% 9.07%
Cash From Operating Activities $40.30M -$10.50M
YoY Change -483.81% -134.88%
INVESTING ACTIVITIES
Capital Expenditures -$1.900M -$2.400M
YoY Change -20.83% 118.18%
Acquisitions
YoY Change
Other Investing Activities $3.300M -$76.80M
YoY Change -104.3% 6300.0%
Cash From Investing Activities $1.300M -$79.20M
YoY Change -101.64% 3343.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.70M 6.700M
YoY Change -602.99% -119.76%
NET CHANGE
Cash From Operating Activities 40.30M -10.50M
Cash From Investing Activities 1.300M -79.20M
Cash From Financing Activities -33.70M 6.700M
Net Change In Cash 7.900M -83.00M
YoY Change -109.52% 1260.66%
FREE CASH FLOW
Cash From Operating Activities $40.30M -$10.50M
Capital Expenditures -$1.900M -$2.400M
Free Cash Flow $42.20M -$8.100M
YoY Change -620.99% -125.96%

Facts In Submission

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CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
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NotesPayableCurrent
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CY2013Q4 us-gaap Notes Payable Current
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CY2014Q2 us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2013Q4 us-gaap Other Liabilities Current
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CY2014Q2 us-gaap Other Liabilities Noncurrent
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24391000 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
25000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
77211000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
5402000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
13056000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3825000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3453000 USD
CY2014Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent
20400000 USD
us-gaap Pension Expense
PensionExpense
180000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Shares Authorized
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1000 shares
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2929000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
5034000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-52000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-9044000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
1555000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
26613000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
4315000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8920000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
16937000 USD
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ProductWarrantyAccrual
37590000 USD
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ProductWarrantyAccrual
20650000 USD
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ProductWarrantyAccrual
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CY2013Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2013Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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ProductWarrantyAccrual
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10678000 USD
CY2014Q2 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
19684000 USD
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
19684000 USD
CY2013Q2 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
10678000 USD
CY2014Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
18545000 USD
CY2013Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
10198000 USD
CY2013Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
11869000 USD
CY2014Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
19045000 USD
CY2013Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7701000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
10760000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7586000 USD
CY2014Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4601000 USD
CY2013Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3703000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5704000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3425000 USD
CY2014Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1857000 USD
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PropertyPlantAndEquipmentGross
107686000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
100565000 USD
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PropertyPlantAndEquipmentNet
34888000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32821000 USD
CY2014Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
68600000 USD
CY2013Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
468000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
943000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
907000 USD
CY2014Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
472000 USD
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15740000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29993000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29878000 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15736000 USD
CY2013Q2 us-gaap Restructuring Charges
RestructuringCharges
24206000 USD
us-gaap Restructuring Charges
RestructuringCharges
24206000 USD
CY2014Q2 us-gaap Restructuring Charges
RestructuringCharges
244000 USD
us-gaap Restructuring Charges
RestructuringCharges
244000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
24206000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
179414000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
204775000 USD
CY2014Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
101000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
615000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
228000 USD
CY2013Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
584000 USD
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
139711000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
146285000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
287233000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
251525000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
40564000 USD
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22828000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5204000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3259000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
42559000 USD
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22910000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017
CY2014Q2 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
25000000 USD
CY2014Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1400000 shares
CY2014Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
25000000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
464962000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
464462000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
785000 shares
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
607000 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
697000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
742000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41419000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41147000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40150000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39899000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39114000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40677000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39453000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40540000 shares
CY2014Q2 aeis Accrued Restructuring Costs
AccruedRestructuringCosts
1079000 USD
CY2013Q4 aeis Accrued Restructuring Costs
AccruedRestructuringCosts
3280000 USD
CY2013Q4 aeis Accrued Sales And Use Tax
AccruedSalesAndUseTax
2415000 USD
CY2014Q2 aeis Accrued Sales And Use Tax
AccruedSalesAndUseTax
3476000 USD
aeis Cash Held In Banks Outside
CashHeldInBanksOutside
53531000 USD
aeis Cash Held In Banks Outside
CashHeldInBanksOutside
30739000 USD
aeis Cash Settlementof Performance Stock Units
CashSettlementofPerformanceStockUnits
-11198000 USD
aeis Cash Settlementof Performance Stock Units
CashSettlementofPerformanceStockUnits
0 USD
CY2014Q2 aeis Contingent Consideration
ContingentConsideration
1444000 USD
CY2013Q4 aeis Contingent Consideration
ContingentConsideration
933000 USD
CY2014Q2 aeis Customer Deposits And Deferred Revenue Current
CustomerDepositsAndDeferredRevenueCurrent
8131000 USD
CY2013Q4 aeis Customer Deposits And Deferred Revenue Current
CustomerDepositsAndDeferredRevenueCurrent
6955000 USD
CY2013Q4 aeis Goods Received Not Yet Invoiced
GoodsReceivedNotYetInvoiced
0 USD
CY2014Q2 aeis Goods Received Not Yet Invoiced
GoodsReceivedNotYetInvoiced
1308000 USD
aeis Increase Decrease In Other Current Liabilities And Accrued Expenses
IncreaseDecreaseInOtherCurrentLiabilitiesAndAccruedExpenses
20451000 USD
aeis Increase Decrease In Other Current Liabilities And Accrued Expenses
IncreaseDecreaseInOtherCurrentLiabilitiesAndAccruedExpenses
2224000 USD
dei Entity Registrant Name
EntityRegistrantName
ADVANCED ENERGY INDUSTRIES INC
dei Document Type
DocumentType
10-Q
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Central Index Key
EntityCentralIndexKey
0000927003
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
39934085 shares
CY2014Q2 aeis Share Based Compensation Arrangement By Share Based Payment Award Options Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsContractualTerm
P10Y0M
CY2013Q4 aeis Uncertain Tax Positions And Other Deposits
UncertainTaxPositionsAndOtherDeposits
2421000 USD
CY2014Q2 aeis Uncertain Tax Positions And Other Deposits
UncertainTaxPositionsAndOtherDeposits
2478000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
11600000 USD
CY2013Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
39000000 USD

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